Top Companies in Electric Motor Market | Top Market Players Growth rate, Past data by Vantage Market Research
Electric Motors are electromechanical devices that operate on the principle of electromagnetic induction. They are long-lasting and efficient, requiring little maintenance, consuming less energy, and being able to withstand voltage fluctuations.
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Upcoming Trends in Electric Motor Market
The Global Electric Motor Market is valued at USD 112.1 Billion in the year 2021 and is projected to reach a value of USD 163.5 Billion by the year 2028. The Global Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.5% over the forecast period. The increase in global electricity consumption and the use of electrical equipment and machines in different industries and the renewables sector are major factors driving growth in the Electric Motor market during the forecast period. The increasing demand for higher operating efficiency motors is likely to fuel the requirement for Electric Motors across different industries. Industries such as electronics, textile, and pulp & paper are using Electric Motors to offer higher-functioning products with additional features (for example, quieter washing machines and fans and improved low voltage to allow solar water pumps and deliver better performance on overcast days).
Heating, ventilation, and air conditioning (HVAC) systems provide thermal comfort and ensure air quality in indoor spaces. They are one of the core building blocks of modern infrastructures, especially for large office buildings or shopping malls. Electric DC motors are widely used in HVAC systems to achieve high efficiency in airflow systems and maximize their life and power. The demand for HVAC systems is increasing in the Asia Pacific, especially in China and India, owing to the continuous growth in their industrial and commercial sectors.
Some of the key players operating in the Electric Motor market are listed below:
|
Company Name |
Revenue in USD |
|
$28 Billion |
|
$70 Billion |
|
$16 Billion |
|
$2 Billion |
|
$4 Billion |
|
<$5 Million |
|
$28 Billion |
|
$1 Billion |
|
$2 Billion |
|
$3 Billion |
ABB Ltd, formerly ASEA Brown Boveri, is a Swedish–Swiss multinational corporation headquartered in Zürich, Switzerland, operating mainly in robotics, power, heavy electrical equipment, and automation technology areas.
Siemens AG is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad. The company is listed as SIE (ETR) in the stock market. The company is one of the largest manufacturers of Electric Motors and is headquartered in Munich, Germany. In 2019 the company generated revenue of USD 94.59 billion and has approximately 2,00,000 employees working across the world.
Nidec Corporation is a Japanese manufacturer and distributor of Electric Motors. Their products are found in hard-disk drives, electric appliances, automobiles, and commercial and manufacturing equipment. The company has the largest global market share for the tiny spindle motors that power hard-disk drives. The company is listed on the Tokyo stock market as 6594 (TYO).
Wolong EMEA is the Sales Headquarters of Wolong electric group, a global Provider of Motor Generators Drives& power drive System Solutions &Services. The company’s products are widely used in home appliances such as air conditioners, washing machines, kitchens,s and gardens in standard and heavy-duty industrial applications such as Oil and Gas, Power Generation, Mining, Marine, Railway, Electrical Vehicles, and many others.
WEG is a Brazilian company, operating worldwide in the electric engineering, power, and automation technology areas. Headquartered in Jaraguá do Sul, Brazil, the company produces Electric Motors, generators, transformers, drives, and coatings. The company is listed as WEGE3 (BVMF) on the stock market.
Johnson Electric is a provider of motors, actuators, motion subsystems, and related electro-mechanical components for automotive, industrial, and medical applications. Johnson Electric has manufacturing facilities in 18 countries. The company is listed Hong Kong stock market as 0179 (HKG).
Regal Rexnord Corporation usually referred to as just Regal Rexnord, is a manufacturer of Electric Motors headquartered in Beloit, Wisconsin. The company has manufacturing, sales, and service facilities throughout the United States, Canada, Mexico, Europe, and Asia, with about 29,000 employees.
Toshiba Corporation is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Its diversified products and services include power, industrial and social infrastructure systems, elevators, and others.
TECO Electric & Machinery Co., Ltd. is a Taiwanese company established on June 12, 1956. The company began as an industrial motor manufacturer. The company has expanded service offerings into a conglomerate with worldwide business operations. The company is listed on the Taipei stock market as 1504 (TPE).
The company has approximately 17,000 employees and 11 billion dollars in annual sales. Hyosung has a harmonized combination of 7 Performance Groups and 24 Performance Units.
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